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4540 Hornyak Drive Monroe, NC 28110

3 Beds 3 Baths 1,770 sqft Built 2021

$325,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $184.12
  • 3 Days on Market
  • MLS # : 3712655
  • Updated Date : 02/26/2021 at 13:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,770 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lgi Homes Nc Llc

Listing Agent's Description

This beautiful home has the space your family needs to fit you at every stage of life. A fantastic loft space is available to utilize in a way that suits your family’s needs, whether that is as a playroom or an office or something else. An open floor plan with incredible kitchen is perfect for entertaining and enjoying time with your family. Last but not least, an incredible master suite offers a vaulted ceiling, private bath with tons of storage and a large walk-in closet **The Home Photo's are samples some features/finishes may differ** **Ask us about paid closing cost** **Union County School District - Porter Ridge Schools - 2.8 miles from our community**

SEE MORE

MARKET HIGHLIGHTS

  • Charlotte metro has 65.8% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • Charlotte attracted more than $325 million in capital investments in 2018Q2 (Meckelenburg county, June 2018)
  • Charlotte metro's economy is worth $181 billion in Gross Metro Product and projected to grow to $192 billion in 2019 (USMayors.org, 2018)
  • #1 Millenial Moving destination city (Smart Asset)
  • Corporate Fortune 500 headquarters: Bank of America, Lowe’s, Duke Energy, Nucor, Family Dollar Stores, Sonic Automotive, Domtar
  • #3 fastest-growing big city in US with more than 15,000 people added in 2017 (US Census, 2018)

PRICE & RENT TRENDS

Zip Code: 28110

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210kPrice in $113k215k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 28110

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350Rent in $8011375

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Porter Ridge Elementary School Primary Regular 479 31 6
Porter Ridge Middle School Middle Regular 1,385 72 7
Porter Ridge High School High Regular 1,591 77 7

Porter Ridge Elementary School

  • Education Level: Primary
  • # of students: 479
  • # of teachers: 31
6
GreatSchools Rating

Porter Ridge Middle School

  • Education Level: Middle
  • # of students: 1,385
  • # of teachers: 72
7
GreatSchools Rating

Porter Ridge High School

  • Education Level: High
  • # of students: 1,591
  • # of teachers: 77
7
GreatSchools Rating
 

$293,310$358,490$325,900

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,132
Property Tax -$170
Property Insurance -$61
HOA -$42
Property Management Fees -$119
CASH FLOW
$177

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$325,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 3.00%
Vacancy 6.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$88,364

INVESTMENT

$88,364

Down Payment
$81,475
Rehab Estimate
$2,000
Closing Costs
$4,889

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,132

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,475
Loan Amount $244,425
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$37,956

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,700

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,717

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,506
1$1,5062$1,6453$1,7004$1,775
$1,775
RENT COMPS ANALYSIS
  • 4540 Hornyak Drive Monroe, NC 3
    • 3 beds 3 baths ∙ 1,770 Sqft ∙ Built 2021 3 beds 3 baths ∙ 1,770 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.96
    •  
  • 2210 Willis Long Road Monroe, NC 1
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1995
    property image
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,506
    • $1.00
    •  
  • 4432 Roundwood Court Indian Trail, NC 2
    • 4 beds 3 baths ∙ 1,979 Sqft ∙ Built 2011 4 beds 3 baths ∙ 1,979 Sqft ∙ Built 2011
    property image
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.83
    •  
  • 4322 Hornyak Drive Monroe, NC 4
    • 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 2019
    property image
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.05
    •  
PROPERTY LISTING DETAILS
Willie Caldwell
1.704.751.0070
Lgi Homes Nc Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3712655
Last Updated: 02/26/2021
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